Adobe’s $20 billion (roughly Rs. 1,63,400 crore) bid for cloud-based designer platform figma face the full European Union The antitrust probe follows a preliminary review by EU regulators, people familiar with the matter said on Monday.
The move underscores antitrust watchdogs’ wariness toward tech deals where larger companies could acquire rival start-ups to shut them down.
One adobe The spokeswoman declined to comment on the EU review. The spokesperson added: “We continue to have fruitful conversations with regulatory bodies around the world. We are excited by the value Adobe and Figma will bring to customers by making product design more accessible and efficient.”
The European Commission declined to comment.
Earlier this year the European Commission warned about the threat the deal posed to competition in the market for interactive product design and whiteboarding software. The EU competition promoter has until 7 August to complete its preliminary investigation.
Figma’s web-based collaborative platform for design and brainstorming is hugely popular among tech companies, including zoom video communication, Airbnb And coinbase,
Earlier this month, Britain’s antitrust regulator announced Adobe’s $20 billion (roughly Rs. 1,63,400 crore) bid for cloud-based designer platform Figma comes under intense scrutiny. Photoshop The owner said it would not offer any measures to ease the regulator’s concerns.
Competition and Markets Authority (CMA) said late last month that the deal could lead to fewer choices for designers of digital apps, websites and other products, and identified concerns in the supply of screen design software where companies compete.
It gave Adobe five working days to submit a proposal to address its concerns. But on July 7, the US company told the CMA it would not offer any remedies, the CMA said.
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